Previously, the neighborhood was considered to be primarily a destination for daytime traders and office workers from around New York City and the surrounding areas. The neighborhood now has a growing number of full-time residents, with estimates made in 2008 showing that there were approximately 56,000 people living in the area, a jump from the 15 to 20 thousand living there before September 11[2], with many buildings being converted from office space to apartments and condominiums during the 1990s and 2000s.

Although the term is sometimes used as a synonym for "Wall Street", the latter term is often applied metonymously to the financial markets as a whole, whereas "the Financial District" implies an actual geographical location. According City of New York official data, the neighborhood is named Wall Street.[3]